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Fortune Company's direct materials budget shows the following cost of materials to be purchased for...

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Accounting

Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: January February March Material purchases $ 13,120 $ 15,230 $ 12,050 Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $7,800. The expected January 31 Accounts Payable balance is

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